De La Rue plc (LSE:DLAR) provided update of strategic review. Clive Whiley, Chairman of De La Rue, added: ?Upon my appointment as Chairman in May this year, it soon became clear that De La Rue was struggling to balance conflicting stakeholder objectives, alongside associated professional fees which were suffocating the nascent recovery emanating from the foundations laid by the Turnaround Plan initiated in 2020, Making a continuation of the deterioration in the market rating almost inevitable. ?Since then I have sought to provide aircover to allow the reinforced executive management team to complete an in-depth review of the fundamentals of De La Rue?s business, designed to arm the Board with the information necessary to gauge the core strategic strengths of the Group, of which there are many.

?The interim results released this morning represent demonstrable progress with adjusted operating profit ahead of guidance, lower net debt, pension deficit repair contributions reduced by £28m over the next three years, significantly enhanced contract win rates and renewed confidence within the management team. ?Accordingly, I would like to thank our core lenders, pension trustees, shareholders and employees alike for their ongoing support to enable us to complete this strategic review. The Board is determined to utilise today?s market update as a springboard to optimise the underlying intrinsic value of the business, for the benefit of all stakeholders, on which the company will provide an update before 31 May 2024?.